Important Changes to Council Property Systems
The way Councils calculate property rates has changed
The State Government has made changes to the Local Government Act 1999 which is the legislation that specifies the manner in which a council raises property rates. The key change that impacts property rates is that councils will no longer be able to use site value when calculating rates and will need to use capital value.
Site value uses the value of the land to calculate property rates. Capital value uses the value of the land plus the value of buildings and other improvements to the land to calculate property rates.
Consultation on the Rate Review Report
Pursuant to Section 151 of the Local Government Act 1999, public comment was invited on Council’s Rate Review Report (the Report). The Report addressed the following:
- The transition from the Site Value to the Capital Value of a property as the basis to calculate rates.
- Implementation of a differential rating structure based on Land Use instead of Locality (not including Silos).
With consideration given to written submissions and feedback provided at community consultation sessions, including an information session, drop-in or call sessions and a public meeting, the Council adopted the Tumby Bay Rate Review Completion Report.
When is the change happening?
The District Council of Tumby Bay will commence the change from 1 July 2024.
To find out more about how rates are calculated and the process for change to capital value, please read the information flyer.